Brain+ awarded an EUopSTART grant by the Danish Innovation Fund to support 2[nd] stage of its EIC Accelerator application

Copenhagen, Denmark, September 20, 2023 – Brain+ A/S (Nasdaq First North: BRAINP)

• The EUopSTART grant of up to DKK 50,000 will fund the preparations of a 2^nd stage application for the large EIC Accelerator grant

• Earlier this month, Brain+’ EIC Accelerator application for up to DKK 60 million in funding for the CST-Home Care project passed the 1^st evaluation round with unanimous evaluator support  

• The 2^nd stage application will be submitted in October, and an answer to the application is expected in December 2023

EUopSTART is a pre-funding scheme provided by the Danish Innovation Fund to help companies alleviate the risk and the resources associated with developing bigger EU proposals. Only companies having passed the 1^st EU application stage, can apply for an EUopSTART grant to get financial support for the work associated with preparing 2^nd stage of the evaluation process.

Brain+’ application for up to DKK 60 million in funding under the EIC Accelerator program, submitted in August, earlier this month was positively evaluated by external EU evaluators in the 1^st evaluation stage (see News Release from September 13, 2023: Two Brain+ grant applications pass first evaluation gate). Based on this, Brain+ subsequently applied for the EUopSTART grant and has now been selected by the Danish Innovation Fund to receive funding for its continued EIC Accelerator grant writing.

The award of the EUopSTART grant is another positive affirmation of the potential of the Brain+ EIC Accelerator project, called, “Bringing digital dementia therapy home – Cognitive Stimulation Therapy for improvement of Cognition, Communication and Quality of Life”. The project focuses on the development and go-to-market plan for the 2^nd digital Cognitive Stimulation Therapy (CST) product in Brain+’ portfolio, the CST-Home Care product. The CST-Home Care product is intended to facilitate and support the delivery of CST directly in the homes of people with dementia, extending the reach of this clinically validated and worldwide recognized non-pharmaceutical dementia therapy beyond the clinic and thus representing a very considerable use and patient benefit potential. The project is supported by and builds on the most mature CST product in the Brain+ portfolio of digital dementia therapies (DTx), the CST-Therapist Companion product.

The award of the EUopSTART grant is based on Brain+’ 1^st stage EIC Accelerator application, which includes 30-pages worth of project objectives, business plan, pitch deck and pitch video, and is an additional signal that expert evaluators see merit in the Brain+ approach. Grant funding is an essential part of the Brain+ funding strategy to bring digitally delivered therapies to market to help people with dementia, caregivers and therapists, and given the immense and growing need in this field combined with the company’s strong track record in raising grant funding, it is the intention to continue to apply until successful. Brain+ has started to work on the 2^nd stage application, which will be submitted in October, and an answer to the application is expected in December 2023

Contact Information

CEO and Co-founder: Kim Baden-Kristensen, + 45 31393317 (SMS), kim@brain-plus.com

Mission:  Bringing effective digitally delivered dementia therapies to those in need, serving a million people with dementia, caregivers and clinicians by 2030.